BTC Price Prediction: Today’s Bitcoin Price, 29th Nov 2022

The November 29 Bitcoin price prediction is still pessimistic under the $16,360 support level, which will eventually turn into resistance. China is the second-largest economy in the world, and protests there have had a negative effect on equities and cryptocurrencies all around the world.

The market for cryptocurrencies is declining as investor concerns spread across international markets, spurred on by demonstrations in China against continuing COVID restrictions.

Today Bitcoin Price

Bitcoin Price Prediction

The 24-hour trading volume for Bitcoin is $24 billion, with the price currently standing at $16,174. The BTC/USD pair has decreased by over 2% over the past 24 hours, but CoinMarketCap is currently in first place with a live market worth of $311 billion, up from $310 billion during the Asian session. 19,218,643 BTC coins are now in circulation out of a total quantity of 21,000,000 BTC coins.

After being rejected below the $16,600 resistance level, which was stretched by a downward trendline, the BTC/USD pair is trading lower on Monday.

Bitcoin has developed a descending triangle pattern in the last four hours, which often signals the start of a downward trend.

With an immediate support level of $16,000 within sight, the price of bitcoin is currently trading at $16,150. This indicates that the next support level for bitcoin, which is extended by a double bottom support level, is $15,650.

There is a lot of selling pressure as seen by leading technical indicators like the RSI and MACD, which are both in the sell zone. The downturn is anticipated to continue because the 50-day moving average is stretching resistance at $16,450.

A bullish breakout of the $16,450 level could push Bitcoin to $17,000 in a matter of days if buyers enter the market.

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